8 Money Mindset Tricks to Help You Save Money and Build Wealth

Not everyone finds it easy to think sensibly about money. In fact, finances are one of the most stressful topics there is.

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Fortunately, according to experts, there are certain mental tricks that can help us save and build wealth.

“Building wealth is as much about attitude as it is about money,” says Jeff Mains, founder of Champion Leadership Group.

Below are some transformative mental strategies that can redefine the way you approach personal finance.

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Think in percentages, not in absolute numbers

“Instead of looking at financial decisions in absolute dollar amounts, I look at them in percentages relative to my income and assets,” Mains said.

This tactic helps put spending into perspective and make more sustainable financial decisions.

“For example, if you invest in a course that is 1% of your annual income but could increase your earning potential by 5%, it is not an expense but a valuable growth opportunity.”

Learn more: I’m a self-made millionaire: 6 steps I took to get rich on an average salary

Use “Contrarian Thinking” for investments

While conventional advice often leads to conventional decisions, Mains has found that wealth is built by wisely swimming against the tide.

“By analyzing trends and often doing the opposite of general market sentiment – after thorough research – I have made some of my best investment decisions that have paid off significantly.”

Consider wealth as part of your well-being, not just as wealth

“I view wealth not just as financial accumulation, but as holistic well-being,” Mains said.

This includes investing in health, relationships and personal growth, which he believes are just as important for long-term wealth as financial investments.

“True wealth means living a balanced life supported by these investments, not just a number in a bank account.”

View all purchases related to hours worked

According to Dennis Shirshikov, head of growth at GoSummer and finance professor at the City University of New York, one of the most powerful mindset changes is to evaluate each purchase in terms of the number of hours of work it takes to afford it.

This simple calculation often leads to more conscious spending behavior.

“For example, if you make $20 an hour and are considering purchasing a $200 gadget, ask yourself if it’s worth the 10 hours of work that went into it.”

He said this approach not only makes the cost more tangible, but also forces you to consider whether the purchase really aligns with your values ​​and long-term goals.

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Turn the tables when selling

Another effective strategy Shirshikov recommends is to reverse the traditional way of thinking about selling.

“Instead of focusing on the money you ‘saved’ during a sale, think about how much you are still spending.”

This subtle shift helps counteract the impulse to buy just because an item is discounted.

Categorize your income into “opportunity areas”

A third mental trick, according to Shirshikov, is to mentally categorize your income into “opportunity areas.”

“Every dollar you earn can grow if you invest it wisely. So when you spend money, you not only lose the dollar, you also forgo the future growth it could have generated.”

For example, spending $100 today could mean forgoing several hundred dollars in future investment gains over the years.

Be grateful for the lifestyle you can now afford

“A person’s attitude toward money is crucial because their perception of money determines how they spend and save it,” says Mafe Aclado, General Manager at Coupon Snake.

A positive money mindset, she explained, is the kind of attitude toward money that ensures your thoughts and habits are consistent with your financial goals.

“And it is this mindset that enables and encourages the individual to postpone masturbation.”

What makes this mindset a good money-saving trick, according to Aclado, is the fact that it helps you become content.

This way, you’re less likely to sacrifice long-term satisfaction for short-term gains, making it much easier to build wealth faster.

“Saving money and building wealth requires conscious decisions, so it’s important to develop a mindset that’s more concerned with long-term financial success, satisfaction and fulfillment than short-term happiness.”

Avoid comparisons

And finally, there’s one final mental trick that Aclado says will help you save money and build wealth faster: avoiding comparisons.

“Because when you compare yourself to others, you lose sight of your personal financial goals and instead of using your money for long-term financial stability, you become more concerned with keeping up with your neighbors.”

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This article originally appeared on GOBankingRates.com: 8 Money Mindset Tricks to Help You Save Money and Build Wealth